Economic Globalisation and the Manufacturing Output in Nigeria
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The study investigates the impact of economic globalisation on the manufacturing output of Nigeria, using annual time series data from 1980- 2019.The explanatory variables include;foreign direct investment, foreign portfolio investment, official development assistance, trade openness, and exchange rate while manufacturing output is the dependent variable. The Augmented Dickey-Fuller Unit root was conducted to test for the stationarity of the variables while the Engel-Granger two step Co-integrationtest was conducted to determine whether a long run relationship exists between the variables. The unit root test reveals that all the variables became stationary after first difference, while the Engel-Granger co-integration test reveals that a long run relationship exists between the variables. The results from the analysis show that foreign direct investment, foreign portfolio investment and official development assistance all have positive and significant impact on manufacturing output in Nigeria.. Conversely, trade openness and exchange rate have negative impacts on manufacturing output in Nigeria. The study therefore concludes that economic globalisation has a positive impact on manufacturing output in Nigeria. It is recommended among others that economic globalization should be embraced and that the Nigeria government should put adequate measures in place to attract foreign direct investment and foreign portfolio investment.